Iran Attack Impacts Stock Market Today Amid Rising Oil Prices
Wednesday, 2 October 2024, 06:43
Market Reflection on Iran Attack
The markets are reacting dramatically to the recent Iran attack on Israel, leading to a sell-off in the stock market today. The escalating tensions are making investors uneasy, as oil prices spike alongside fears of production disruptions.
Key Developments
- US stocks experienced a notable drop on Wednesday.
- Oil prices surged for a second consecutive day, with international crude rising 2.7% to $75.63 per barrel.
- US crude rose about 3% to reach $72.06 per barrel.
Strategists at TS Lombard warn that if the conflict escalates further, it could severely impact Iran's infrastructure and oil production, raising further concerns in the markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.